Guggenheim Forecasts Strong Price Appreciation for SOLV Energy (NASDAQ:MWH) Stock

SOLV Energy (NASDAQ:MWH) had its target price lifted by analysts at Guggenheim from $37.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 30.07% from the stock’s previous close.

MWH has been the topic of several other reports. Roth Mkm assumed coverage on SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on SOLV Energy in a report on Monday, March 9th. They issued an “overweight” rating and a $34.00 target price on the stock. Robert W. Baird boosted their target price on SOLV Energy from $36.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. UBS Group reissued a “neutral” rating and issued a $50.00 target price (up from $42.00) on shares of SOLV Energy in a report on Thursday, May 14th. Finally, Zacks Research raised SOLV Energy to a “hold” rating in a report on Tuesday, March 10th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, SOLV Energy currently has an average rating of “Moderate Buy” and an average price target of $40.00.

SOLV Energy Stock Performance

NASDAQ MWH opened at $38.44 on Tuesday. SOLV Energy has a twelve month low of $26.42 and a twelve month high of $48.40. The company’s 50 day moving average price is $34.91.

SOLV Energy (NASDAQ:MWH) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15. The firm’s quarterly revenue was up 80.0% on a year-over-year basis.

About SOLV Energy

SOLV Energy (NASDAQ: MWH) is a renewable energy company that develops, constructs and operates solar and energy storage projects. The firm provides solutions aimed at reducing customers’ reliance on traditional grid power by pairing photovoltaic systems with battery storage where appropriate. SOLV’s activities are centered on delivering commercial-scale and distributed generation projects for business, institutional and public sector clients.

The company’s services encompass multiple phases of project delivery, including site assessment, system design, procurement, engineering and construction, and ongoing operations and maintenance.